CEOs Go Rogue While The Stock Market Weakens

  • ROGUE CEOS: The two White House business advisory groups - the Manufacturing Council and the Strategy and Policy Forum - disbanded this week after Donald Trump made egregious remarks in support of ACTUAL NAZIS in Charlottesville. Big shock, huh? 
  • ADULTING: Or not. Can we ban that word
  • MARKET MOVES: The stock market fell Thursday as a result of increased uncertainty caused by Donald Trump's comments on GOP leaders, as well as the terror attack in Barcelona. 
  • BIG FUCKING DEAL: Private equity firm Energy Capital Partners has agreed to acquire Calpine Corp., a U.S.-based power generator, in a deal worth $17 billion in cash and debt. Damn, that's a pricey company!
  • THRIFTY BUSINESS: A whole lot of Ivanka Trump's clothing line is ending up in Goodwill, according to Fortune
  • COLOR OF RISK: Women of color are exposed to more chemicals in beauty products than white women, according to researchers. Face lightening creams and hair relaxers could be the culprit.
  • #LOOSECHANGE: Don't forget to check out our recently launched blog, #loosechange! We posted a piece on what to do in the wake of the Charlottesville terror attack, as well as a much lighter travel money diary

- Alicia McElhaney / She Spends Issue #16

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Volatility Is Back, But Can It Last?

  • HIGHLY VOLATILE: Following President Donald Trump's commentary on North Korea this week, the volatility index, VIX, soared. In other words, the measure of risk in the stock market was up 45% by market close Thursday. Investors are concerned about what the president's comments on the country could do to the markets, and many are putting their money into stable assets like gold.
  • FAMILY TIES: Ivanka Trump is opening up a store for her clothing line... in the Trump Tower.Anyone else a little concerned by this nepotism? 
  • INTERNET DARLINGS: Snapchat and Blue Apron - two majorly hyped internet brands that first listed themselves on the stock market this year - are struggling. Despite initial investor excitement, both are down 40% since they first went public. Yikes. 
  • BOXED DEAL: Makeup retailer Birchbox is in talks regarding an acquisition with several retailers, including Walmart. The mega retailer has scooped up Bonobos and ModCloth, both digital-first companies, so an acquisition of Birchbox makes sense. 
  • DEPARTMENT STORE WOES: Macy's and Kohl's stores are seeing a sales slump, which is bad news for investors. Macy's stock fell 10% Thursday, while Kohl's fell 5%. 
  • UBER PROBLEMS: As Uber struggles to find a female CEO, its former executive, Travis Kalanick, has been sued by one of its early investors, Benchmark Capital, for fraud. 
  • BEAUTIFUL STAFF: Tarang Amin, the CEO of E.L.F. Cosmetics, talked about his staff this past week. According to Amin, the makeup purveyor is successful because its staff is full of diverse men and women. 

- Alicia McElhaney / She Spends Issue #15

Dismal CEO News, Support for Abortion Access & Equal Pay

  • MUST READ: We're unabashedly liberal here at She Spends. So we were pretty frustrated when we saw that the Democratic National Committee is not making a pro-choice stance a "litmus test" for candidates. Lindy West broke down in the New York Times why abortion is a must-support issue for Democrats. "There is no economic equality without the ability to terminate a pregnancy," West wrote.
  • TAKE CREDIT: Many men think they know how credit scores work. But a new study shows that men don't know a whole lot about credit. Good thing we do! 
  • EQUAL PAY: We recognized black women's equal pay day this week. Here's one of our favorite pieces about it, from Insecure's  Yvonne Orji.
  • 22,000: The stock market continued to soar this week. The Dow, a major marker for market performance, hit 22,000 for the first time, which was a pretty big deal. 
  • CEO SHAKEUPS: Two women CEOs stepped down this week. Irene Rosenfeld of Mondelez and Sheri McCoy, head of Avon, stepped down as a result of pressure from activist investors. Yikes. 
  • NFL CHEERLEADERS: The NFL Cheerleaders are fighting for better pay. They're making wages below the minimum, yet their bosses are paid some of the most money across industries. 
  • MISCARRIED COSTS: Having a miscarriage is an expensive experience, according to this new Refinery29 piece. A 20-hour hospital stay cost the writer more than $40,000. Woah. 

- Alicia McElhaney / She Spends Issue #14

Healthcare Update, Shine Theory & The Latest Market Outlook

  • HEALTHCARE UPDATE: At the time of writing, a healthcare bill still has yet to pass in the Senate. Be sure to let your voice be heard on the bill by calling the Senate switchboard at (202) 224-3121.
  • MARKET OUTLOOK: We're in the thick of earnings season, with companies like Amazon (AMZN), Twitter (TWTR) and Apple (APPL) reporting their second quarter results. The stock market fell Thursday, mostly thanks to mixed results from tech companies.
  • SHINE THEORY: Check out this list of five major networking tips. Our favorite? Celebrating others' accomplishments, aka shine theory.
  • SPEAKING OF SHINE: A really amazing project, He Said Whaaat? launched this week. Its aim is to tackle workplace sexism. 
  • POOR JUDGEMENT: Why judging the poor isn't actually helping anyone. (hint: empathy is necessary to fix systemic problems causing poverty.) 
  • BEAUTY BOX: Birchbox changed the way we think about beauty products. Here's how.
  • INFLECTION POINT: Are the equities markets at their peak? Howard Marks, the value investor who called the 2008 financial crisis, is warning clients to move investment to lower-risk equities. 

- Alicia McElhaney / She Spends Issue #13

Stock Market Reaches Record Highs, UK Unveils Plan to Combat Sexism In Advertising

  • MARKET MOVES: The NASDAQ and NYSE - two major benchmarks for the U.S. stock market - hit all time highs this week. This bull market doesn't seem like it's ending any time soon. 
  • CONFRONTING BIAS: Ever wonder how to deal with gender bias in the workplace? Inc. has you covered this week. 
  • BRAIN DRAIN: Ever feel exhausted after staring at your computer all day? It's mental exhaustion, and it can make you feel especially tired because the brain uses a ton of your body's energy. 
  • NO MORE SEXISM: So says Britain's advertising watchdog group. The Advertising Standards Agency has undertaken a review of advertising for gender stereotyping. 
  • BEST JOBS FOR WOMEN: Ever wonder what companies treat women the best? Fairy Godboss has a list of the best as of 2016. 
  • DOWNWARD STOCK: Yoga giant YogaWorks postponing its plan for an initial public offering because of "current market conditions." 
  • ACTIVIST EXIT: Activist investor Jana Partners has exited its investment in Whole Foods following Amazon's takeover of the company. Jana had owned an 8.2% stake, worth roughly $300 million.

- Alicia McElhaney / She Spends Issue #12

 

Another Day, Another Heinous Healthcare Bill Proposed By The Senate

 

  • HEALTHCARE: Another day, another healthcare bill proposed. This is the Senate's second attempt at creating a bill that will receive enough votes to pass. Many are pushing for this bill's passage because it would allow Republicans to make deep cuts to the federal deficit. But that doesn't reconcile the fact that millions would be unable to access healthcare. 
  • LULU TAKES ON YOUR HOME: Lululemon announced this week that it's launching a home line. 
  • GOOD EGGS: Thinking about donating your eggs? NY Times explored whether egg donors face long term health risks. The jury is still out on whether there are long term risks to donating.
  • BAD BET: The previously announced merger between sports fantasy sites DraftKings and FanDuel has been called off. The two were worried about potential antitrust lawsuits from the Federal Trade Commission, because they're the only two major players in the industry.
  • MONEY GUILT: Ever feel guilty about how much money you make? How to alleviate these feelings. 
  • STARTUP FOR WOMEN: The venture capital industry is coming under fire for the way it treats women, especially women of color. 
  • OUTSIDE IN: We love this series on immigrant women making their way in careers in the U.S. Paola Mathé, in this story, is a fashion icon.

- Alicia McElhaney / She Spends Issue #11

 

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Television Retail Networks Merge, While the White House Has a Major Wage Gap (Is Anyone Shocked?)

  • TV-READY DEAL: TV retail juggernaut QVC has agreed to acquire rival HSN for $2 billion. Interesting news for an industry that has almost exclusively moved online.
  • MARKET MOVES: The stock market fell to its lowest point since May on Thursday, July 6. This is because central banks (Wall Street speak for state-owned banks) have gotten more hawkish in recent months, signaling that they will raise interest rates. 
  • ALPHA RISING: Stock news site TheStreet launched a new series featuring women redefining business,  
  • FUN GIGS: A new Pew Foundation survey found that most people who join the gig economy do it for fun, rather than to make money. 
  • THAT JOKE ISN'T FUNNY ANYMORE: This read is an old one, but good. An author discusses the ongoing joke about women being bad with money - and why it's total bullshit.
  • LEAST SURPRISING NEWS EVER?: The Trump White House has a glaring wage gap. Is anyone actually surprised about this?
  • CROWDFUNDING LEAVE: Moms in the U.S. are starting to crowdfund leave from their jobs. Why? Could it be that we have abysmal leave policies? And that Ivanka Trump's posturing has little impact on actual policy?
  • EMOTIONAL LABOR IS REAL: And women in tech can't be the only employees to press for change. This Bloomberg article shares why.

- Alicia McElhaney / She Spends Issue #10

Walgreens, Rite Aid Deal Flounders, We Spend a TON on Weddings & Blue Apron Finally Goes Public

  • DEAL DREAMS DASHED: Your two favorite drugstore chains - Walgreens & Rite Aid - were set to merge earlier this year in a $9.4 billion deal. Attempts were thwarted by the Federal Trade Commission, which said the deal would create a monopoly. In response, the two scaled back the initial deal but haven't taken it off the table. Walgreens will buy half of Rite Aid's stores for $5.18 billion in cash. Rite Aid's stock fell 25% on the news because investors expected the deal to fail outright.
  • SPENDING FOR THE WEDDING: We read two interesting pieces this week on wedding costs. The first is an advice column: what to do when you can't afford a rich friend's wedding. The second is a study by wedding website The Knot on the average cost of a wedding in 2016. It's not pretty. 
  • CREEPY INVESTORS: Female founders seeking venture capital share their war stories about creeps who tried to make a pass at them -- while they were doing business. Yuck.
  • BLUE IPO: Blue Apron has finally been listed on the New York Stock Exchange. It listed at a price lower than expected thanks to that Whole Foods/Amazon deal, but at least it didn't lose any value on its first trading day.
  • HEDGE FUND TWITTER: Hedge fund investor, Bill Ackman has finally created a Twitter account, and business Tweeps are freaking out.
  • WOMEN, INTERRUPTED: A recent story from The Atlantic asks: "Why is the onus on women to curb workplace interruptions?"
  • LONG WEEKEND READING: We're obsessed with the Girls Night In newsletter. Best paired with a long weekend and a glass of white wine. 
  • OLD MONEY: The New York Times published a definitive guide to saving for retirement this week.

- Alicia McElhaney / She Spends Issue #9

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Amazon Transforms Grocery Industry, Uber's CEO Steps Down & Some Sad News for Us Feminists

  • WHOLE NEW DEAL: Last Friday, just after our newsletter published, Amazon announced that it would buy Whole Foods for $13.7 billion. It's a transformative deal for the online retailer, which has already signaled an interest in expanding into the food space. Other food retailers, including Jet.com, Krogers and Blue Apron shares plunged on the news. The deal still has yet to close, so be sure to watch out for potential antitrust actions to be taken against the two.
  • FREE LABOR: Did you follow a publication like HerCampus, Spoon University or The Odyssey when you were in college? They're profiting off of free labor. Paying writers is important!
  • KALANICK OUT: Uber's CEO finally stepped down after weeks of being roiled in scandal. We discussed last week. 
  • GADOT GETS MONEY: Or not...find out why she was paid so little to star in Wonder Woman. 
  • LADIES' 401K: A good friend wrote this week on why women are lagging when it comes to saving for retirement.
  • ANOTHER GAP: Women outnumber men in art school, but are underrepresented in the industry, a study shows. Go buy some art from your fav. female/non-binary person ASAP!
  • THEY DON'T REPRESENT!: Is it really any surprise that there are so few Republican women in Congress? (One reason could be that they don't represent women's needs!) Another? Republicans don't fund their campaigns. 

- Alicia McElhaney / Issue #8

What Will It Take For More Women to Win Elections

  • CAN WOMEN WIN?: What will it take for women to win in political office? Politico explored this week, and it's a big deal. Per the report, "the U.S. ranks 101st, below China, Iraq and Afghanistan, when it comes to gender equity in our national legislature." 
  • WHEN TO SEND A DICK PIC?: ABSOLUTELY NEVER. But especially not on LinkedIn, or else your company could become responsible. Yikes. 
  • KAMALA, INTERRUPTED: Did you catch the Jeff Sessions hearing in the Senate this week? Kamala Harris, a Democratic senator from California, came with her former-lawyer pants on, but was once again interrupted by her peers. Why can't people listen to women of color? So frustrating! 
  • GOLDILOCKS PAY?: Who is underpaid, who is overpaid, and who gets paid what they're worth
  • BEAUTIFYING: In last week's newsletter we discussed how the one woman CEO in charge of a Fortune 500 cosmetics company is Avon CEO Sheri McCoy. Not so fast. The Wall Street Journal is reporting that she has plans to step down.
  • PRETTIER NEWS: Check out how an economist mixes high end and drugstore products to make the perfect skincare and makeup routine. 
  • TECH LADIES: Women make up fewer than 10% of all venture capital backed tech startup owners, according to a new study. The numbers are worse when look at minorities. Just 2% of all VC-backed startups are owned by Latinos, while just 1% are owned by African Americans.
  • HUSTLIN': Do people actually make money from the sharing economy? A new study shows that 85% of people in the sharing economy make less than $500 per month. 

- Alicia McElhaney / She Spends Issue #7

Comey Fails to Move Markets, Uber Sucks, Transparency Rules

  • MARKET MOVES: Investors didn't respond much to the testimony of former FBI director James Comey before the Senate on Thursday. In fact, U.S. stocks were modestly higher Thursday, despite political uncertainty. 
  • UBER IS TRASH: As if you didn't already have a million reasons to switch to Lyft. This week, Kara Swisher and Johana Bhuiyan of Recode reported that Uber executives obtained medical records of a woman who had been raped by her Uber driver, then passed them around the company. He has been fired, but it's clear that the company is a major bro's club. Yikes. 
  • STRONG RETURNS: A Fidelity survey shows that women are better investors than men. Women, according to the survey, are better savers and investors.  
  • SO CHIC: The RealReal, an online designer retail boutique, secured $50 million in funding from Great Hill Partners this week. They've been slaying the fundraising game by raking in $173 million from investors so far. 
  • FEELING SPENDY: Internet friend & Glossier gal Dena Julia of Leo With Cancer wrote about spending money with stage IV metastatic breast cancer this week. Her essay is incredible. 
  • FEMINIST FIGHT CLUB: Based in New York? Check out this event on surviving a male dominated workplace, put on by Sally. 
  • TRANSPARENT: A study shows that employees are more motivated when companies are transparent about salaries. Both women and men benefit according to this 

- Alicia McElhaney / She Spends Issue #6

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Free Birth Control for All is in Jeopardy, Blue Apron to go Public, Hillary Clinton is Back

  • PAWS OFF, GOP: On May 31 the department of Health and Humans Services proposed a rule that would allow any employer to opt out of providing birth control via health insurance if they are morally or religiously opposed to it. My good friend wrote about the impact this rule could have on women just after the election. Check it out here.
  • $APRN?: Meal-kit delivery service and podcast darling Blue Apron announced it will file an initial public offering later this year. This means you'll soon be able to be a shareholder of the company...any guesses on its future ticker name? 
  • SHE'S BACK: This piece by Rebecca Traister on Hillary Clinton was stunning. Not so money-centric, but worth a long read when you have a chance.  
  • INCOMING ETF CRISIS?: ETFs, or exchange traded funds, are the hot new investment product. This week I spoke with Mark Okada, co-founder at investment firm Highland Capital, about how ETFs could play a role in the next recession. 
  • EVERYDAY IT RAINS: What happens when you grow up feeling like you can never afford what you really want? What happens when you finally get some extra money? 
  • ASKING FOR MORE: Another brand-spanking-new wage negotiation tool for you, this time from Bustle. 
  • MAJOR MILESTONE: Amazon (AMZN) shares hit $1000 apiece on May 30. The online retail giant was neck and neck for weeks with Google's parent company, Alphabet (ABC) to see which tech giant would hit the milestone first. Fourteen other companies have hit the $1000 milestone previously. 

- Alicia McElhaney / She Spends Issue #5

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Yikes: "Poverty is a State of Mind," a Major Math Error & Yet Another Pay Gap for Women

  • IMPOVERISHED STATE OF MIND: Oh lord Ben Carson...did you really just say that? The former presidential candidate and current Secretary of Housing and Urban Development actually said that being poor is a state of mind. Why do we care? Carson is in charge of the governmental organization that allocates funds for low income people. Sorry Ben, but wishing away poverty isn't exactly good monetary policy. 
  • ANOTHER PAY GAP: It never ends, does it? The American Association of University Women released a report this week that shows that women hold nearly TWO-THIRDS of the nation's student debt. True, we do have a higher graduation rate than men, but the difference is not this massive.  
  • BAD MATH: President Trump's long awaited plan for the U.S. budget was released this week. At the heart of it was a $2 trillion math error. The creators of the budget double counted budget cuts because they assumed cuts will lead to economic growth. Anyone who has tried to cut spending knows that this is exactly NOT how money works. 
  • FUTURISTIC FINTECH: A financial planning app's creators, a team of all men, pivoted when they realized women loved their app. Joy is the latest of many techy financial tools made specifically for women.  
  • FINALLY, A WIN!: One of our fav biz news sites, the Harvard Business Review shared a piece this week on how the Boston College Group managed to close the gender gap in retention rates. Read up!
  • MARKET UPDATE: The financial markets were relatively quiet this week, as earnings season is winding down. Yesterday oil prices fell 5% after oil producers agreed to limit cuts for nine more months. We're still in a bull market and to be honest, I think we'll be here for a bit of time. Things that could change that include big moves in the Russia investigation (as evidenced by last week's fall and rebound). 

Alicia McElhaney / She Spends Issue #4

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Watching Stock Prices Fall as the Trump Team Sputters

  • FALLOUT, FINALLY: The stock market took a giant leap when Donald Trump was elected president because investors believed he would be in favor of deregulation. However, the stock market finally began to fall this week as news came to light that Trump threatened former FBI Director James Comey for investigating Michael Flynn. The U.S. dollar weakened and the Dow Jones Industrial Average - a benchmark for stock market performance - dropped. Both bounced back Thursday, but analysts aren't convinced that a full rebound will take place. If you're a tweeter, follow Emily Stewart, my former colleague, for updates on the political climate's impact on the stock market.
  • MILLION DOLLAR AVOCADOS: Do millionaires know how much avocados cost? This one said if millennials stopped buying avocado toast, they would be able to buy a house. True, the price of avocados is on the rise. But the problem is more likely our collective student debt crisis.
  • WHERE THE GIRLS AREN'T: Women are about to control a massive amount of capital, Marketwatch reports, but there are few financial advisers who are women. Incoming crisis? 
  • SNAP REBOUND: Last week we shared that Snapchat's (SNAP) shares tanked on its first quarter earnings. After heavyweights like Goldman Sachs & Soros Fund Management revealed investments in the company, shares surged early in the week. 
  • SKINCARE BOT: A skincare bot that helps tailor your routine to your own skin's needs - HelloAva - launched this week at TechCrunch. I just used the bot to order a new SPF. 
  • BABY BLUES: According to a New York Times report, the gender wage gap is largely a result of motherhood. Related: The Pregnancy Pause is a great tool that helps new moms return to the workforce. 

- Alicia McElhaney / She Spends Issue #3

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Comey Fired, Stock Market Unchanged

  • COMEY'S OUT: The biggest news this week was that Donald Trump fired FBI Director James Comey, who was investigating Trump's team for its involvement in the Russia election hacks. The surprise did not move markets as expected, CNBC reports. 
  • #MERGERMONDAY: On Monday, several companies announced deals. Sinclair Broadcast Group is paying $3.9 billion for Tribune Media Co. and Coach will pay $2.4 billion for Kate Spade. Kate Spade the human reportedly won't receive any money from the deal.
  • MACY'S & SNAPCHAT FLOUNDER: We're still deep in earnings season. Of note, Macy's reported unfortunate earnings per share of 24 cents for the first quarter (they were expected to report 35 cents per share). Snapchat, in its first quarter as a publicly traded company, lost $2.2 billion. 
  • GETTING THEIR FIX: StitchFix, meanwhile, has found a way to succeed in the retail industry. The company reported $730 million in revenue for the year despite being a startup. 
  • WHOLE NEW BOARD: Whole Foods Market (WFM) will remove more than half of its sitting board. Maybe that makes more room for diversity? Just three women sit on its 12 person board today.
  • UNCONVENTIONAL SHOPPING: Racked had an incredible piece up this week on Iranian women's shopping habits. Instagram has become a hub for women's startups in the Middle Eastern nation.
  • NEGOTIATION HELP: We loved Refinery29's salary negotiation tool, which was published this week. Check it out here

- Alicia McElhaney / She Spends Issue #2

A rough week for Snapchat. 

A rough week for Snapchat. 

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GOP says being a woman is a pre-existing condition, celebrates with beer

  • AHCA: On Thursday the American Health Care Act (AHCA) - the healthcare bill Republicans have been touting as a repeal and replacement of the Affordable Care Act - passed the House of Representatives. It now goes to the Senate for a June vote. Under the bill, c-sections, domestic violence, sexual assault and post-partum depression are considered pre-existing conditions. Perhaps writing "identifying as a woman" is a pre-existing condition seemed too obvious.
  • ACA: Of interest to our community - personal bankruptcy has decreased thanks to the Affordable Care Act.
  • URBAN OUTFITTERS: CtW Investment Group has called out Urban Outfitters' board for its lack of women. The apparel retailer has just two women on its board of directors. Yikes. 
  • GIRLS WHO CODE: Private equity firm KKR has invested in Girls Who Code, alongside GoDaddy and First Data. Each company is sponsoring a summer program for 40 girls. 
  • MERGE REQUEST REJECTED: A longtime engineer at Facebook found that code written by women was rejected much more frequently than code written by men. WTF? 
  • JOB LOVE: Are women allowed to love their jobs? Jill Fillipovic asks. 
  • SOME BS: The Ninth Circuit Court has ruled that employers can pay women less than men for doing the same job...as long as they made less at their previous workplace. Circular logic, no?

- Alicia McElhaney / She Spends Issue #1

Michelle <3

Michelle <3